Five state-run oil and natural gas PSUs will become corporate partners of the International Solar Alliance (ISA) and will contribute to ISA’s corpus fund, Union Petroleum Minister Dharmendra Pradhan said on Tuesday. It is not immediately clear how much these oil companies would contribute to the ISA fund, but PSUs like NTPC, PGCIL, REC, PFC, CIL and PFC had earlier contributed $1 million each to this corpus.
The minister said that the state-run energy companies will be focusing more on green energy investments such as renewables, biofuels and hydrogen going forward. “We have taken up the mission of solarising about 50% of fuel stations owned by public sector oil companies in the next five years,” Pradhan said while speaking at the first World Solar Technology Summit organized by ISA.
